Bitcoin Bounces From $83K as Hidden Buying Surges: Why a Relief Rally Is Becoming More Likely

Yesterday, Bitcoin briefly dipped to the $83,000 region, shaking out late longs and triggering a wave of liquidations. But as of this morning, BTC has climbed back above $87,000, reclaiming a crucial level in the short term.

My own long position remains open, with the stop-loss sitting just below $83,000. If it gets hit, so be it — profits have already been secured. But as it stands, Bitcoin is simply doing what we expected: chopping sideways as it attempts to form a higher low.

Let’s break down the key levels, macro structure, and why a relief rally into six figures is still the most likely outcome.

IS THE BOTTOM IN?

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Bitcoin Price Action: Still Range-Bound, Still Forming a Base

Bitcoin recently fell below its previous trading range before catching support at a major level and reclaiming $86,000–$87,000. This reclaim is constructive, but not decisive.

What BTC needs now:

✔ Form a higher low
✔ Avoid revisiting the $83K wick zone
✔ Hold above $86K while building structure

If this recent bounce is truly a local low, there is no reason for Bitcoin to revisit the lower support. A sustained move below this area would put the bullish thesis at risk and open the door for deeper consolidation.

For now, I’m simply letting the trade play out and watching for the next major setup.

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Key Levels to Watch: Yearly Open → $98K Pivot → Weekly Support

BTC is approaching a critical zone:

1️⃣ Reclaim the Yearly Open

If Bitcoin pushes back above the yearly open, momentum should accelerate. This level has repeatedly acted as a magnet for price.

2️⃣ The $98,000 Pivot

This level functioned as the final resistance before Bitcoin printed a new all-time high. A reclaim here opens the path back to six figures.

3️⃣ Weekly Support at $90,800

Zooming out, this level was defended multiple times before the most recent capitulation.
A weekly close above $90,800 would be a powerful signal that the worst is behind us.

The structure is still bullish — just messy.

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Macro View: Relief Rally Above $100K Is a Matter of “When,” Not “If”

Bitcoin is setting up for a relief rally into six figures. Timing is uncertain, but direction is clear.

Why?

• Markets are pricing in ending quantitative tightening

• Rate cuts are now expected at the December 10th meeting (90% probability)

• Liquidity conditions are stabilizing

• Fear has peaked, positioning has reset

This environment historically precedes significant bounces.

I am watching closely for the next long setup — and yes, despite recent volatility, my next trade is far more likely to be a long, not a short.

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USD Dominance: The Most Important Chart Right Now

We must stay below 6.76% USD dominance.

If USD dominance breaks above this wick:

❌ Worst-case Bitcoin scenario becomes more likely
❌ Risk assets will bleed
❌ BTC may revisit lower levels

If it remains below:

✔ Crypto maintains room for upside
✔ A retest of the USD dominance trendline could trigger a broad market rally
✔ A relief wave becomes the default outcome

This is the chart I’m watching above all others.

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Liquidation Heatmaps: Shorts Are Overcrowded (Again)

Liquidation heatmaps show one clear message:

Most of the liquidity is sitting above current price.

There is far more fuel to liquidate shorts than longs, which means:

• A squeeze upwards is statistically more likely

• Shorts opened in the $86K–$93K range are vulnerable

• Traders remain positioned for downside

This is why shorting here is extremely risky.
The best short was at $93,000 — not at current levels.

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Coinbase Premium Turns Positive: A Strong Bullish Signal

Recently, Coinbase Prime showed:

• Heavy red premium → large selling pressure → price nuked

• Then premium flipped positive → price stabilized

Seeing green return here is encouraging.
It means U.S. spot buyers are back — historically one of the most reliable demand indicators.

As long as premium stays positive, Bitcoin has breathing room for a rally.

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Orderflow: Largest Hidden Buying of the Entire Cycle

This may be the biggest overlooked signal in the market.

Orderflow is showing the strongest hidden buying divergence of this entire cycle.

Meaning:

• Buyers are stepping in aggressively

• Price is not reflecting the true strength of demand

• These imbalances almost always resolve upward

Even after the drop to $83K, hidden buying remains extreme.
This reinforces the thesis that a multi-week reversal is forming beneath the surface.

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My Strategy: Preparing for a New Long Entry

I’m still holding my sub-$83K long.

But more importantly:

My next major trade will almost certainly be another long.

The structure is aligning:

• Hidden buying

• Oversold conditions

• Positive Coinbase premium

• Short-heavy positioning

• USD dominance resistance

• Macro tailwinds

A retrace into support could print the perfect new entry.

Until then, patience.

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Final Thoughts: The Market Is Quiet, but the Setup Is Strong

Bitcoin dropped to $83K.
Now it’s back to $87K.

Nothing structurally has changed — except bullish signals continue stacking up.

I remain confident in my position, with profits secured and the remainder protected by a break-even stop loss. A relief rally is coming; the only question is timing.